HSBC Bank announced the launch of a digital credit platform, which is to meet the financial needs of American consumers.
HSBC Bank will launch the Avant’s Amount digital credit platform to expand its audience and even better meet the expectations of consumers who want to borrow money online safely, quickly and easily .
HSBC Bank (HSBC) belongs to the HSBC Group, one of the world’s largest banking and financial organizations. This well-known financial institution announced yesterday that it will use the industry-leading Avant’s Amount online loan to meet the borrowing needs of its customers. The new digital credit platform will provide US consumers, including current HSBC Bank customers, with quick access to online personal loans.
“Our platform provides HSBC with proven and effective technology solutions that can be customized to suit your needs. It also provides tools to support the development of lending activities, including fraud prevention, bill verification, risk assessment, marketing and full customer service throughout the entire loan process. “
“The US non-bank personal loans market is growing by 20% per year. Its value has already exceeded 125 billion dollars, “said Pablo Sanchez, head of regional retail banking and HSBC budget management in the US and Canada. “Every year, millions of consumers take loans to pay for unexpected expenses, consolidate debt or renovate a house. By adding personal loans to our expanding product package, we meet the needs of today’s consumers who want a safe, quick and easy way to borrow money online. “
HSBC will leverage the technology and digital capabilities of Amount, thanks to which the Avant brand has already granted loans with a total value of nearly USD 5 billion. In this way, the bank wants to meet the personal credit needs of over 600,000 consumers.
The Amount platform has been adapted to the HSBC specification, including proprietary risk models. As a result, the bank can run a proven online credit platform without any problems based on the brand’s experience and customer suggestions. Thanks to the Amount platform, which will provide HSBC online credit facilities, customers will be able to quickly and easily assess their credit options and fill out an online loan application. Accepted borrowers can receive funds the very next day. HSBC intends to borrow up to $ 30,000 for up to five years.
“Consumer behavior has changed significantly in recent years. Future-minded banks such as HSBC recognize the option of taking an online loan as a competitive distinctive element in today’s market, “said James Paris, director of strategy at Avant and head of payments. “Our platform provides HSBC a tried and effective technology solution that can be customized to suit your needs. It also provides tools to support the development of lending activities, including fraud prevention, bill verification, risk assessment, marketing and full customer service in the credit cycle. “
The launch of HSBC’s personal credit product is the result of a successful last year’s debut of the new online credit card platform as well as a refreshed set of credit card offers. These included the HSBC World Elite Premier Mastercard® credit card, available to HSBC Premier customers, as well as HSBC Cash and Low Rate credit cards available to all applicants. These cards offer a full package of benefits to help life experience, including a wide selection of travel and meal purchases, flexible redemption options and attractive travel credits.
According to Marcos Meneguzzi, head of the department of credit cards and non-bank loans, retail banking and property management, HSBC, offering easy and convenient access to unsecured loans, becomes the market leader. Consumers expect a simple online application process from their computers or mobile devices. The credit card must be taken within seconds, and if approved, the funds borrowed must be deposited directly into their bank account within 24 hours.
“Working with Avant, we have significantly increased the dynamics of introducing new products to the market to better serve our customers. This platform enables the development of activities beyond the physical reach of HSBC, while maintaining the focus on high-quality customers who want to build a broader relationship with the bank, “said Meneguzzi.
The new HSBC online credit platform will be available to customers in the first half of 2019.